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Accountants and auditors in Iowa no longer need a four-year degree

Posted at 6:52 PM, Oct 26, 2022
and last updated 2022-10-26 19:52:00-04

SIDNEY, Iowa. (KMTV) — Industries around the country are struggling to find staff and that includes national shortage of accountants and auditors.

To attract more applicants, the Iowa Auditor of State says they'll no longer need a four-year degree.

Lisa Irvin is an accountant with the IRS. A working professional for years, she's noticing a shift in the industry.

"For our continuing education classes, it was very obvious. The industry is aging. I was among the youngest people in the room. I am not anywhere near retirement but I'm also not a spring chicken anymore either," Irvin said.

Irvin splits her time between Sidney and Glenwood. Accounting recruits straight out of college are few and far between for Irvin.

"Being in a small town, my pool of people is small anyway. I'm just not seeing the interest. I've even gone through Iowa Workforce (Development) and they haven't sent me anything," Irvin said.

Iowa State University's Michael Bootsma has noticed fewer students are majoring in accounting.

More students tend to study the subject when there's an economic downturn since it's seen as a recession-proof job.

"When we have economic times like we've experienced recently, generally we'll see a downtick in the number of students that major in accounting," Bootsma said.

The U.S. Bureau of Labor Statistics reports there will be more than 136,000 job openings for accountants and auditors each year over the next decade. Irvin believes the shortage takes a toll on those already working.

"There's absolutely no room for a break, to take off and go off on vacation is great, but it's almost more of a headache to come back afterwards," Irvin said.

A self-proclaimed "nerd for numbers," Irvin loves math, but she hopes those seeking a job will consider the profession for other reasons.

"A few years ago, I had a client with a house fire and I helped them through that. I had clients that had babies, starting new families, it's part of that — relationships," Irvin said.

To become a certified public accountant (CPA) a four-year degree will still be needed.

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